CC Resolution No. 5780 ~ ~
ItGSOLUTION N0, 5780
A RF•.SOI,UTION OF THE CITY COUNCII, OF TI1F. CITY OF CUPERTINO
IN AGR~EttiNT PURSUANT TO RF.VCNUE AND TAXATION CODR SECTION
99. 1 r0R EXCt(tV~GG OF PROPF.RTY TAX P.IiVF.NUES FOR 'CERRITORIF.S
AFFECTED BY A JURISUICTIOHAL CkIANGE RESUI.'1'ING IN A SPF.CIAI.
DISTRICT PROVIllING SERVICE tJ11ERIi SUCII SERVICC tIAD NOT BEEN
' PREVIOUSLY PROVIDED BY ANY LOCAL AGENCY
idIILRLAS, Section 99.1 of the Revenue and Taxation Code requires that all
affec[ed local agencies participa[e in an exchange of property tax revenues
regarding territory attected by a jurisdictional change which will result in a
special district providing one or more services to an area where such services
i~ave not been previously provided by any Local agency; and
IdFIF.R1iAS, the cities, County anJ special dL5[ricts wish to facilitate orderly
and expeditious jurisdictional changes; and
W}iGREAS, the cities, County and special districts have reached agreemen[
pursuant to tl~e above-referenced code section;
NOW,TilEF2EFORE, IIE 1'f RESOLVEll TIiAT THIi City of Cupcrtino agrees that, in
such territory, the special districC extending service shall be included in the
allocatian of the annual tax increment to local agencies; and that the
non-school portion of the annual tax increment shall be siiared by all local agencies
in thc tax rate area in proportion [o their "equivalent tax ra[es" as derived
from the provisions of ABB.
13E I'C FURTIIF.R RCSOLVBll that this distribution formula shall be applied to
all pending anJ future jurisdictional changes which will result in a special
dis[rict provlding service where such service had not been previously provided by
any local a~ency; and
BE IT FURT}ICR RF.SOLVED that the Coun[y Audi[or and [he Gxecu[ive Officer of [he
i.ocal Agency Formation Commission shall be notified of tliis resolution pursuant
[o subparagraph (b) of Section 99 of the ubove referenced Code.
YA5SEU AND AiIOPTED at a regular meeting of the City Council of the City of Cupertino
on the ^ 18th day of ,lanuary , 19 82 by the following vote:
Vote Members of the City Council
AYI:S: Catto, Johnson, Plungy, Rogers, Sparks
NOES: None
ABSENT: Nonc
~1BSTAIN: None
APPROVED:
ATTEST:
ayor, City upertino
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' puty City rk
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